Recurring Deposit
 

 

Invest a little each month in a recurring deposit account, and watch your savings grow.

With a recurring deposit or RD account, you make monthly deposits for a fixed period of time and earn interest on your account balance. On maturity of your recurring deposit, you will receive your principal and interest.

Bank of Baroda (Kenya) Ltd (Kenya) Ltd offers attractive interest rates on recurring deposit schemes.

 Recurring Monthly Deposits

 

Key Features

  • Open a recurring deposit account with Bank of Baroda (Kenya) Ltd and create a habit of saving regularly. The monthly installments on RD accounts especially, encourage new investors to set aside money throughout the year.
  • The key benefit of recurring deposit accounts is that you receive better returns on your investment compared to other financial instruments. This is because recurring deposit schemes have higher rates of interest as compared to savings accounts.
  • You can choose from a deposit amount to suit your financial outlook and investment goals. The tenure on our RD accounts can range from 6 months to 60 months. There is no upper limit on the amount of money you can invest in recurring deposit schemes.

 

Eligibility and Terms and Conditions

  • Eligibility

    All Individuals and Non-individuals

    Amount of Deposit

    • Minimum :Kes500 and in multiples of Kes100
    • Maximum :No upper limit

    Tenure of Deposit

    Minimum : 12 Months

    Maximum : 60 Months

    Installment Frequency

    Monthly

    Rate of interest

    As per the maturity period of the deposit

    Maturity of Deposit

    One month after payment of last installment OR Due date, whichever is later.